Real Estate Glossary

What is Triple Net (NNN)?

Triple net, also known as NNN, is a type of lease agreement in which the tenant is responsible for paying all of the expenses associated with a property, in addition to their rent. These expenses typically include property taxes, insurance, and maintenance and repairs. This type of lease is often used for commercial properties, such as retail stores or office buildings, and can provide a more predictable and stable income stream for the landlord.

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